Welcome to this week’s newsletter!
Will Silver Prices Rise?
In this week’s newsletter we are going to investigate the seasonal heatmap for the month of April. It has highlighted a potential for the commodities to rise in line with the seasonal USD weakness.
Looking at Silver we can see some technical reasons why buyers could be stepping in this week
As we can see from the table above Silver typically rises through this month.
The daily timeframe shows a recent low forming in the market at a high-volume level. Not only this but the price has recently found support after breaking through the low showing us that buyers are remaining down at these lows.
From the higher timeframe we would like to see the uptrend develop by breaking and re-testing the highs around $25.00.
Lets look at the 4hr timeframe we can see the previous highs could act as support as this is when we saw some significant buying coming in from the demand zone. If the price gets back to here, we could look for an earlier long opportunity in line with a daily higher low.
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